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The EURUSD rallied overnight modestly after yesterday’s sharp selloff. The price has not been able to correct 38.2% of the move suggesting a little reluctance tot he upside. The 38.2% upside resistance comes in at 1.4121....

From a technical perspective the EURUSD started the move to the downside – albeit in a choppy fashion. Of note is that the all important level of 1.4183 was briefly surpassed but could not sustain upside momentum. This...

The Ascending Wedge on the EURUSD bodes for another move north. There are significant resistances in between the R5 and R6 ( which is the target at 1.4493) so will look for a staggered move up to it. If the wedge cannot be...

With lower stocks this morning and oil and commodities under wraps, it brings into play the commodity currencies. The AUDUSD has been trending of late as global recovery and higher commodities have supported the pair. The pair...

The EURUSD has spiked up to the 1.4248 level but could not extend the high. The failure at the top has led to a move back down on the disappointment. As a result, seeing some nervous intraday profit taking. The support will come...

www.proacttraders.com I do these three currency pairs because they represent a cross section of the market as a whole – all matching up to possible opportunities on Wild Card, 6 Aces and Royal Flushes (Trending and Elliott...

The IMF warned the lack of a “credible” plan for the U.K. budget will put pressure on the pound. This along with the CIT worries of bankruptcy and a lower US stock market has led to a sell off in the GBPUSD today as...

The GBPUSD moved to new recent week highs at the 1.6477 level. This took out the high reached yesterday at the 1.6466 level and moved above the 61.8% retracement level of the move down from the June high of 1.6743. The price,...

The USDCAD has had a great fall. However the fall is currently unsustainable so that lends itself to a correction. We are headed to the 240 previous resistance at 1.1167 and the confluence of the 0.618 for the former leg up and...